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New York governor approves short-term apartment rental ban in NYC

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Re: New York governor approves short-term apartment rental ban in NYC

#21
post #11
post #5

That's one way to make NYC even less affordable and friendly to tourists on a budget. I've met some very interesting and friendly people in 'short-term apartments'. Mostly foreign students/travelers on vacation, people moving to NYC for work and using it as temporary housing until they find a real place, or just regular Americans visiting another city on a budget. They make it seem like these places are unclean or un…

> That's one way to make NYC even less affordable and friendly to tourists on a budget. But that is a valid concern I suppose -- does NYC benefit from tourists on a budget? If it doesn't then it might make sense to keep them out so tourists "not on a budget" can have more space, visit more often, and consequently spend more money. I can see how tourists on a budget would not be welcome in many cities. Some places rel…

You could spend $100+ on a hotel for the night, or spend around $30 or less on a temp place. The money you save CAN be used for touristy things. That's $70 a day that can thrown somewhere else besides for shelter. They could be out partying, trying out food places, buying things, etc. This is just the savings from not staying at a hotel..

A tourist who stays at a hotel ($100/night) might only have budgeted $50/day to spend outside of hotel costs.

A cheap tourist could budget $100/day, stay at a temp place and still get more out of NYC than someone who budgeted $150/day and stayed at a hotel.

Re: New York governor approves short-term apartment rental ban in NYC

#22
post #13

The first time I read about something like this I was outraged. "How dare they, the government is blocking people's ability to do business". Then, after some careful thought I started to agree with this ban. Basically I put myself in the shoes of a resident next to a building being used as an illegal hotel. The people do not have the proper permits. Obviously they are not licensed. The fact that there is always new p…

[deleted]

Re: New York governor approves short-term apartment rental ban in NYC

#23
post #17
post #13

The first time I read about something like this I was outraged. "How dare they, the government is blocking people's ability to do business". Then, after some careful thought I started to agree with this ban. Basically I put myself in the shoes of a resident next to a building being used as an illegal hotel. The people do not have the proper permits. Obviously they are not licensed. The fact that there is always new p…

You are missing one important point: most people affected by this ban are individuals, renting out one room at a time, maybe two. I have a hard time believing this generates any kind of noticeable "coming and going". In fact, tolerating the rental of a single room per household strikes me as a good way of separating the wheat from the chaff. Ironically, even Cuba has such an exception: http://en.wikipedia.org/wiki/Ca…

I also see this as a problem though. Most likely the person doing this is not the owner of the apartment. I wonder how the original landlords feel about this. Maybe they just don't care, who knows. Seems wrong to be using their apartment for this when they never agreed to it.

Re: New York governor approves short-term apartment rental ban in NYC

#24
post #20
post #19

Earlier quoted context omitted.

I have no idea what the breakdown of tax allocation looks like in NYC/NY state, but I'm not sure your last statement is correct. I assume the person doing this illegal business is still paying property tax and state income tax? If not, then that's a problem with the IRS, not a housing authority.

The tax for a residential building and for a hotel are not the same.

I realize that, but it's still extra income that gets taxed back to the government

Re: New York governor approves short-term apartment rental ban in NYC

#25
post #17
post #13

The first time I read about something like this I was outraged. "How dare they, the government is blocking people's ability to do business". Then, after some careful thought I started to agree with this ban. Basically I put myself in the shoes of a resident next to a building being used as an illegal hotel. The people do not have the proper permits. Obviously they are not licensed. The fact that there is always new p…

You are missing one important point: most people affected by this ban are individuals, renting out one room at a time, maybe two. I have a hard time believing this generates any kind of noticeable "coming and going". In fact, tolerating the rental of a single room per household strikes me as a good way of separating the wheat from the chaff. Ironically, even Cuba has such an exception: http://en.wikipedia.org/wiki/Ca…

One more thought: the state expects this to plug a leak in tax revenue. I think they are vastly underestimating the relief these rentals represented: losing that extra income might mean foreclosure for a lot of people.

Plugging a leak, really? I call it shooting the life raft.

Re: New York governor approves short-term apartment rental ban in NYC

#27

Wow, a law! This will stop the "problem" just like the drug laws solved the drug problem. Nobody wants drugs anymore, and even if they did, it would be impossible to obtain them. Same for short-term rentals, thanks to this!

It will make Airbnb business more difficult in NYC. Sure, it hasn't stopped the drug Mafias but it sure makes their job harder and brings the price of drugs up (they love this though). This will probably bring the price of short term rentals up. Enough perhaps to satisfy the hotels. Which maybe is all they want.

Re: New York governor approves short-term apartment rental ban in NYC

#28
post #21
post #11

Earlier quoted context omitted.

> That's one way to make NYC even less affordable and friendly to tourists on a budget. But that is a valid concern I suppose -- does NYC benefit from tourists on a budget? If it doesn't then it might make sense to keep them out so tourists "not on a budget" can have more space, visit more often, and consequently spend more money. I can see how tourists on a budget would not be welcome in many cities. Some places rel…

You could spend $100+ on a hotel for the night, or spend around $30 or less on a temp place. The money you save CAN be used for touristy things. That's $70 a day that can thrown somewhere else besides for shelter. They could be out partying, trying out food places, buying things, etc. This is just the savings from not staying at a hotel.. A tourist who stays at a hotel ($100/night) might only have budgeted $50/day to…

I would agree - the money spent on hotels probably doesn't stay as local as money spent on food and entertainment.

Really an unrelated issue though.

Re: New York governor approves short-term apartment rental ban in NYC

#29
post #21
post #11

Earlier quoted context omitted.

> That's one way to make NYC even less affordable and friendly to tourists on a budget. But that is a valid concern I suppose -- does NYC benefit from tourists on a budget? If it doesn't then it might make sense to keep them out so tourists "not on a budget" can have more space, visit more often, and consequently spend more money. I can see how tourists on a budget would not be welcome in many cities. Some places rel…

You could spend $100+ on a hotel for the night, or spend around $30 or less on a temp place. The money you save CAN be used for touristy things. That's $70 a day that can thrown somewhere else besides for shelter. They could be out partying, trying out food places, buying things, etc. This is just the savings from not staying at a hotel.. A tourist who stays at a hotel ($100/night) might only have budgeted $50/day to…

I would agree - the money spent on hotels probably doesn't stay as local as money spent on food and entertainment.

Really an unrelated issue though.

Re: New York governor approves short-term apartment rental ban in NYC

#30
I wonder how much this lowers the price of 30 day rentals in April 2011 vs. 3 x 10 day rentals today.

I was going to AirBnB a few separate places in different parts of NYC for a month or so, but now it looks like I should do just one. If all of the daily-rentals have to convert to 30+ day rentals, it should increase supply by a lot more than the number of people willing to switch from short stays to longer stays.

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